SKF divests metal joining business

2015 August 17, 08:30
CEST

Canfield is a manufacturer of solder, pastes and
preforms for metal joining, used in the electronics, plumbing and
jewellery industries and joined SKF as part of the acquisition of
Kaydon Corporation in October 2013.

The total consideration of the divestment is
approximately USD 23 million, on a cash- and debt-free basis.

Located in New Jersey, Canfield Technologies had
sales of approximately USD 17 million in 2014 and has been
operating as a stand-alone business within the SKF
Group.

SKF is a leading global supplier of bearings, seals,
mechatronics, lubrication systems, and services which include
technical support, maintenance and reliability services,
engineering consulting and training. SKF is represented in more
than 130 countries and has around 15,000 distributor locations
worldwide. Annual sales in 2014 were SEK 70 975 million and the
number of employees was 48 593. www.skf.com

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